PORTUGAL (Notifix) - Sonae Industria announced that its indirectly affiliated companies, GHP GmbH and Tool GmbH, intend to enter into negotiations with employee representatives and trade unions regarding the potential reduction of the particle board activities performed in the plant located in Horn-Bad Meinberg (Germany).

The decision to enter into these negotiations is due to the continuous losses that are being incurred in the light of the lower demand for particleboard and the industry overcapacity as a whole. Any decision to implement a reduction of activity at the Horn-Bad Meinberg plant after the negotiations with employee representatives and trade unions would be consistent with company’s stated strategy of concentrating production in the more efficient and profitable plants.